Main navigation

Bitcoin Index Shows “Extreme Fear,” Here’s Why It May Be Good Sign

Wed, 11/23/2022 - 15:54
article image
Yuri Molchan
Bitcoin Fear and Greed index has hit the 22 mark, showing “extreme fear”
Bitcoin Index Shows “Extreme Fear,” Here’s Why It May Be Good Sign
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

The Index of Fear and Greed for Bitcoin shows 22, which stands for “extreme fear,” while the crypto market has returned to the green zone for the time being and the majority of the top 20 cryptocurrencies are demonstrating a modest rise.

According to the web page of the index, this level of “extreme fear” has been holding over the past month, showing a value of 22-23.

This zone of the index is characterized by a great deal of fear as traders and large investors, also known as gain hunters, start buying Bitcoin in large quantities.

As of this writing, Bitcoin is changing hands at $16,453, according to CoinMarketCap.

Nearly 2 Trillion SHIB Moved as Token’s Price up 10% Within 24 Hours

A few days ago, BTC fell below the $15,800 level briefly. The powerful bearish driver that pushed BTC from the $20,000 zone was the recent catastrophe of the FTX exchange that declared itself bankrupt, as well as its affiliate trading firm, Alameda Research, which it was trying to bail out.

The co-founder and CEO of FTX, Sam-Bankman Fried, filed for insolvency and resigned. This scandal provoked a large increase in the lack of trust in crypto exchanges. Users began to massively withdraw their crypto into cold wallets.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at